Investec profits up 13.3% on strong lending

Specialist bank and asset manager Investec on Thursday announced a 13.3% increase in first-half profit.

Its lending unit was especially robust.

The company also announced some management changes.

The Money Show’s Bruce Whitfield interviewed Stephen Koseff, CEO of Investec.

Scroll down for quotes from the audio below.

We are in a better position than we’ve ever been.

Stephen Koseff, Investec CEO

The upper end in South Africa is still very healthy.

Stephen Koseff, Investec CEO

The SARB is worried about inflation and acting pre-emptively. A quarter of a percent is neither here or there.

Stephen Koseff, Investec CEO

The rand is an emerging markets and commodities problem. It’s not South Africa that is the issue.

Stephen Koseff, Investec CEO

We can fix a lot of problems by privatising key state-owned assets.

Stephen Koseff, Investec CEO

Transformation is about education.

Stephen Koseff, Investec CEO

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